Insurers “Are Already Preparing to Pay Some Fraction” of Pandemic-Related Claims, Lawyers Say
So far, insurers have been balking at paying business interruption plans for pandemic shutdowns, but that is likely to change.
Nine Must Reads for the CRE Industry Today (July 11, 2020)
Pension funds are finding it hard to value their real estate holdings amid the pandemic disruption, reports the Wall Street Journal. Up to 28 million Americans might soon be facing evictions, according to CNBC. These are among today’s must reads from around the commercial real estate industry.
Shelter in a Storm: The Case for Trophy Office Building Investment
Wednesday, July 22, 2020 | 2:00 PM Eastern Daylight Time
Trump Wins Court Hold on Hotel Emoluments Suit During Appeal
The extension means that the financial information tied to the D.C. hotel likely won’t get released before the election.
Nine Must Reads for the CRE Industry Today (July 10, 2020)
National office and apartment vacancy rates rose only marginally in the second quarter, reports Reuters. As online sales boom during the pandemic, the U.S. may need another 1 billion square feet of warehouse space by 2025, according to CNBC. These are among today’s must reads from around the commercial real estate industry.
Nursing Homes Operators Must Prepare for Rising Staff Wages
Labor costs in the sector are increasing as operators confront labor shortages and higher risk to staff.
Closed Offices Present Challenges for College Students Looking to Enter the CRE Industry
Many are having difficulty completing their programs’ internship requirements, and onboarding for first jobs is challenging via Zoom.
Ann Taylor Owner Ascena Prepares Bankruptcy to Cut Debt, Stores
The owners of Ann Taylor and Lane Bryant could file for Chapter 11 by the end of this week.
Bed Bath & Beyond to Close 20% of Stores in Next Two Years
The chain plans to close 200 stores over the next two years in an effort to cut costs.
14 Must Reads for the CRE Industry Today (July 9, 2020)
Over 77 percent of U.S. apartment households made full or partial rent payments by July 6, according to NMHC. Brooks Brothers has filed for bankruptcy protection, reports the Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.
As Retail Anchors Go Under, Landlords Offer Rent Concessions in Exchange for Other Tenants’ Co-Tenancy Clauses
Co-tenancy clauses wrecked havoc on retail landlords during the last recession. This time, landlords are trying new negotiating tactics.
JPMorgan Puts Plans for Ohio Office Return on Hold Indefinitely
The bank was planning to bring as many as half of its Columbus, Ohio workers back to the office by Labor Day.
Apartment Investors Begin to Navigate COVID-19 Deal Landscape
The properties hitting the market today tend to be smaller. Investors are holding onto stabilized assets if they can and distressed deals haven't hit the market yet.
Kimco Realty Debuts Green Debt as It Boosts Focus on ESG Issues
The REIT sold $500 million in green bonds after the offering was boosted by strong investor demand.
Nine Must Reads for the CRE Industry Today (July 8, 2020)
CMBS delinquencies surged at a record monthly rate in June, according to CNBC. Real estate developers are on the list of companies that took stimulus loans, reports the Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.
New York real estate mogul agrees to buy San Francisco landmark
Michael Shvo and partners are going ahead with the purchase of Transamerica Pyramid.
The Office Is Not Dead—Just Evolving—and Definitely Here to Stay
Though there are many forces at play, an office environment will remain relevant and important in the long term.
Moveable Walls, But Same Size Floor Plates: How Office Projects Are Changing in Response to COVID-19
As some office projects push ahead, architects are incorporating new features to allow for more flexibility.
Zara Founder Unveils $17.2 Billion Global Real Estate Empire
Zara owner Amancio Ortega has amassed real estate holdings valued at $17.2 billion, including investing more than $3 billion in U.S. assets.
10 Must Reads for the CRE Industry Today (July 7, 2020)
Commercial property sales in New York City took a deep dive in the second quarter, reports the Wall Street Journal. As department stores disappear, regional malls could follow, according to the New York Times. These are among today’s must reads from around the commercial real estate industry.